Aim-listed gold recovery company Goldplat has reported a healthy operating profit of £3.04-million for the six months ended December 31, 2020.
The company’s South African operations achieved an operating profit of £2.2-million, while its Ghana-based operations increased operating profit more than five-fold to £842 000.
Goldplat posted an operating profit of £2.8-million in the six months ended December 31, 2019, with the South African operations comprising £2.6-million of this, and the Ghana operations £151 000.
Goldplat says it has invested a significant amount of time and resources in gathering data to optimise its current production lines in South Africa, as well as on its new tailings storage facility (TSF).
It is these investments that contributed to a lower operating profit year-on-year from the South African operations.
The company expects approval for the construction of the new TSF to be received by July, while pre-construction work will start during the fourth quarter. The new TSF will cost about £700 000, while £80 000 of capital expenditure has been incurred in the meantime to manage the current TSF.
Goldplat remains focused on improving its gold recoveries from lower-grade contaminated material and building strategic partnerships within the mining industry.
For example, Goldplat’s efforts in Mali, Burkina Faso and Côte d'Ivoire to secure additional sources of supply continue, with engagements at mine and government level.
The company will release its interim results early in March.